Latest News

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The age at which people will be able to collect the state pension will rise from 67 to 68 sooner than previously planned,  Secretary of State for Work and Pensions David Gauke has announced. It means the rise will now take place in 2037 rather than 2044....
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The number of foreign landlords investing in UK rental property has plunged as a result of recent tax changes, new data has shown. According to letting agency Countrywide, only 5% of UK properties now have overseas owners, down from 12% in 2010. The fall has...
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The Department for Work and Pensions has issued advice to retired people born in the early 1950s on how to increase their state pensions. Addressed to those who reached state pension eligibility age between April 6th 2010 and April 5th 2015, it said men who...
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The Pensions Regulator has its priorities wrong as it takes on the expanded remit given to it by the government, according to the newly re-elected chair of the House of Commons Work and Pensions Select Committee Frank Field. Among the new powers the body has...
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The majority of people are happy to see their taxes increase if it means an end to the 1% pay cap for certain public sector workers, research carried out exclusively for the Independent newspaper has revealed.  BMG Research posed the question of whether...
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Britain faces a wide array of tax risks linked to Brexit, the Office for Budget Responsibility (OBR) has warned. The Fiscal Risk report said major problems included the potential loss of financial business in the City of London. While only contributing 3% of...
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Government plans to reinstate a cut in pensions tax relief have been criticised by former pensions minister and current head of policy at Royal London Steve Webb. Treasury Minister Mel Stride said the March Budget plan to cut the Money Purchase Annual...
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HMRC has won its case against Scottish football club Rangers over the use of Employee Benefit Trusts (EBTs) as a means of avoiding tax, which means it can now pursue a range of cases against firms using them. The Supreme Court verdict was the final appeal...
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Pensions minister Guy Opperman is facing criticism over comments that women affected by changes in the pension age could be eligible for apprenticeships as late as their 60s in order to secure new employment that will boost their incomes. Mr Opperman's...
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Glasgow Rangers Football Club is set to hear the ruling over its use of an employee benefit trust scheme to pay players, managers and directors between 2001 and 2010. HMRC has argued the £47 million paid in loans were actually earnings and should be...
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The exclusion of the self-employed from auto-enrolment schemes can be addressed via a self-assessment system, pension firms Royal London and Aviva have argued. The pair have come together to draw up a blueprint that would use the self-assessment system to get...
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The Welsh public is being invited to contribute to a debate on new revenue-raising measures, following the granting of new devolved tax powers. Finance Secretary Mark Drakeford said he wanted to "kick start" a debate on how the new powers should be...
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The newly-appointed Work and Pensions Secretary David Gauke has promised he will "not shy away from the big decisions" on pensions as he gets to grips with his role. Writing in the Financial Times, Mr Gauke said previous governments have...
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The cabinet is split over the issue of whether to maintain cause on austerity or raise taxes to pay for extra public spending, according to a report in the Daily Telegraph. Foreign Secretary Boris Johnson has now joined those who believe more revenue needs to...
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Former Conservative minister Oliver Letwin has said the government should "bite the bullet" and ease austerity by making a number of small tax increases to ease the pressure on public services.    Speaking on the BBC Radio 4 Today...
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Plans by the Financial Conduct Authority (FCA) to protection pension savers by increasing transparency among asset management funds has been widely welcomed. The FCA report found there was a lack of transparency and competition, with high profits and too...
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The Finance Secretary of the Scottish Government Derek Mackay has revealed he is considering changes to the bands used in the Lands and Building Tax, which was introduced in place of Council Tax in 2015. The tax focused heavily on raising more money from the...
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Lower taxes will be levied on passengers flying from Scottish airports after MSPs voted in favour of replacing the existing UK-wide Air Passenger Duty (APD) with a new Air Departure Tax (ADT), which will cost less to pay. The Scottish Government wants to set...
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The pensions triple lock cannot be sustained and will have to be axed sooner or later, the new Work and Pensions Secretary David Gauke has said. Mr Gauke told journalists in Westminster that the current system works on a "ratchet" effect that will...
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The Queen's Speech includes a pledge to keep tax rates down, suggesting that any increases that do take place in upcoming Budgets will be limited. The speech stipulated that: "My government will continue to improve the public finances, while keeping...
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The typical retired household in Britain paid £7,400 in tax in the 2015-16 tax year, according to a new study by Prudential. Using ONS figures, it established that £52.7 million was collected in direct and indirect taxes from members of the 7.1...
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Football Coach Jose Mourinho has denied committing tax fraud in Spain during his time managing Real Madrid. He is facing accusations of fraud regarding £2.9 million worth of image rights payments spread over 2011 and 2012. However, he has denied the...
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The capacity of FTSE 350 companies to meet their pension scheme liabilities is at its most enervated since 2009, a new report by PricewaterhouseCoopers (PwC) has found. The ability of companies to meet their defined benefit or final salary schemes has been...
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There has been significant growth in the past year in the number of transfers of pension funds of very high value, exceeding that of a typical home, according to new research by Royal London. The survey of over 800 financial advisers found a rise of over 50%...
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Employees of large firms in Britain are missing out on £2 billion a year in future pension income by not opting to make more than their minimum contributions, a new survey has found. Royal London said many workers and firms are not aware of the option...